DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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Borrower
E••••• H•••••••• L••
Also written as: E•••••
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
n/a
n/a on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
14
2 on the latest quarter
Facilities
6
1 equity pieces beside them
Next maturity
Dec 5, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
6
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien revolver first lien | unknown | n/a | SOFR+500 bp | Dec 5, 2029 | 5 |
| other lien unstated exited Dec 31, 2024 | at least $32.6M | 100c | S+525 bp | unstated | 5 |
| first lien term loan first lien exited Mar 31, 2026 | at least $3.9M | 100c | SOFR+500 bp | Dec 5, 2031 | 11 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 2 | |
| first lien delayed draw term loan first lien exited Dec 31, 2024 | unknown | n/a | unstated | 3 | |
| revolver lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 2 |
Equity pieces beside the debt: equity ($3.1M fair value, 3 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••• C••••• B•• I••• | revolver first lien Investment Type 1st Lien Revolver Index S+ Spread 5.00% Interest Rate 8.73% Maturity 12/5/ | n/a | n/a | SOFR+500 bp |
| A•••• P•••••• C••••• F•••• L•• | revolver first lien 1st Lien Revolver Maturity 12/5/2029 | n/a | n/a | SOFR+500 bp |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $0 | $0 | n/a | 0 |
| Mar 31, 2026 | 2 | $3.9M | $3.7M | 100c | 0 |
| Dec 31, 2025 | 2 | $0 | $0 | n/a | 0 |
| Sep 30, 2025 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2025 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2025 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2024 | 10 | $176M | $176M | 101c | 0 |
| Sep 30, 2024 | 8 | $108M | $107M | 101c | 0 |
| Jun 30, 2024 | 8 | $81.4M | $81.4M | 102c | 0 |
| Mar 31, 2024 | 9 | $78.5M | $77.8M | 101c | 0 |
| Dec 31, 2023 | 11 | $68.8M | $67.8M | 100c | 0 |
| Sep 30, 2023 | 3 | $27.6M | $28.7M | 104c | 0 |
| Jun 30, 2023 | 3 | $27.6M | $27.9M | 102c | 0 |
| Mar 31, 2023 | 3 | $27.7M | $26.9M | 99c | 0 |
| Dec 31, 2022 | 3 | $26.4M | $25.5M | 98c | 0 |
What changed
- Maturity extended (observed)Mar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- New lender joined a facilityDec 31, 2025
- Lender left a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilitySep 30, 2024
Sponsor
- P•• P•••••••
- Form D signer consensus, grade Bestimated"Form D vehicle E••••• TopCo, LLC (2025-02-11), signers: Michael A. Foisy; Ted H. Kramer"
Identity
- Group key
- ENCOREderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 14 BDCsderived